DigiByte Takes a Short-term Break from a Week-long Price Rally

The price trend of DigiByte is recovering today after yesterday’s loss. However, considering how the market is keeping the investors in a nail-biting situation.

To the relief of the traders, the Bitcoin price is still above $9200 despite recent corrections. DGB coin, too, has kept the spirit up as it is trading well above the support levels; the 5-day long bullish rally may continue if the consolidation remains intact.

DigiByte Price Analysis

The first week of this month has seen a few bullish spikes. The currency had kickstarted the ongoing month while trading as low as $0.015. Later, a dip occurred near $0.014 before the price shot up.

DGB price has noted a massive rise of 78% in such a volatile market, proving its reliability. The escalation took the price above $0.026 with a strong bullish bias. This seems to be the result of the famous FOMO: fear of missing out, especially when it comes to investments.

The recent market crash pulled all the coins down significantly, making them cheaper to buy. Engagement to the coin due to this might have played a part behind such price rise.

DGB/USD Chart By TradingView

Here, all the technicals are in a bullish area. The RSI of DigiByte is firmly stable above 50, while the coin is above the EMA line. The short-term moving average is above the longer one, noting a positive sign for the DGB coin.